Sabine Weyand, the European Commission’s new Director-General of Trade, and the ex-deputy negotiator on Brexit said that that there was not much movement thus far when it comes to trade talks on reduced industrial tariffs with the US.
“We need to build trust by making progress in areas where we agree,” Weyand said during the event hosted by the Center for Strategic and International Studies think tank in Washington, adding, “The EU would be forced to respond to American tariffs on cars. Tit-for-tat tariffs would result in a lose-lose situation.”
Weyand said it is important to build trust by moving forward in areas where the two sides agreed in full, rather than focus solely on contentious issues.
“It’s a very mixed picture,” Weyand said during her first official visit to Washington since taking over in her new role. Weyand added that the bloc will find a way to settle a nearly 15-year dispute over government subsidies to US aerospace giant Boeing and Europe’s Airbus for aircraft development.
If an agreement can be reached, according to Weyand, it would provide more guarantees for the two sides and avoid a further escalation that would eventually lead to more tariffs.